Find the compound interest at the rate of 5•/• per annum for 3 years on that principal which in 3 years at the rate of 5•/• per annum gives ₹1200 as the simple interest. (Ans:-1261).
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Answer:1261
Step-by-step explanation:
S.I.=P×R×T/100
1200=P×5×3/100
P=1200×100/5×3
P=₹8000
Amount of C.I.=
P(1+r/100)^t
8000(1+5/100)^³
8000×(105/100)³
8000×105/100×105/100×105/100
=₹9261
There C.I. =AMOUNT-PRINCIPAL
=9261-8000=1261
divyanshu103:
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